European Union leaders are planning a massive increase in defense spending worth hundreds of billions of Euros. The aim is to dramatically boost defense capabilities by 2030 in the face of a growing threat posed by Russia. In a paper presented ahead of the summit, the European commission warned that history would not forgive leaders for failing to act. Plans include 150 billion Euros in European Union loans for defence investments and an exemption from EU debt rules for defense spending. As well as fears that Moscow may attack an EU nation in the coming years, there are also doubts about the future of US protection for Europe via NATO.
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